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Dividend of EUR 0.75 per share approved at Grammer AG's annual general meeting

CEO Hartmut Müller's contract to be renewed by a further five years

(PresseBox)
(Amberg,
2016-05-11)
The shareholders of Grammer AG have accepted the proposal submitted by the Executive Board and the Supervisory Board, passing a resolution to approve a dividend distribution of EUR 0.75 per share at today's annual general meeting. Accordingly, the company will be distributing roughly EUR 8.41 million on the total of 11,214,624 dividend-entitled shares, equivalent to around 27 percent of the net retained profit of Grammer AG and around 36 percent of the group net profit which Grammer generated last year.

"This unchanged high dividend is a clear signal to our shareholders that, despite the challenging market conditions, we have been progressing as planned with the implementation of our global growth strategy and that the current valuation of our share offers attractive upside potential," said Hartmut Müller, CEO of Grammer AG, in his address to the shareholders.

Approximately 42 percent of the voting-entitled capital was represented at GRAMMER AG's annual general meeting. A large majority of shareholders voted to ratify the actions of the Executive Board and the Supervisory Board in 2015.

It was also announced at the annual general meeting that the contract with CEO Hartmut Müller would be renewed for a further five years. Under Hartmut Müller's management, the Grammer Group has evolved into a very successful global player over the last few years. Looking forward, the Supervisory Board of Grammer AG wants to maintain the Group's dynamic growth with this continuity in the Company's Executive Board.

Grammer AG

Grammer AG, Amberg, Germany, specializes in the development and production of components and systems for automotive interiors as well as driver and passenger seats for utility and offroad vehicles. In the Automotive Division, we supply headrests, armrests and center console systems to premium automakers and automotive system suppliers. The Seating Systems Division comprises the truck and offroad seat segments as well as train and bus seats.

Grammer is represented in 20 countries worldwide with a workforce of over 12,000 employees across its 32 subsidiaries.

The Grammer share is listed in the SDAX and traded on the Frankfurt and Munich stock exchanges via the electronic trading system Xetra as well as in over-the-counter trading at the Stuttgart, Berlin and Hamburg stock exchanges.

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